The automotive tire pressure monitoring system (TMPS) market is anticipated to grow at a significant CAGR of 25.2% during the forecast period (2022-2028). Automotive TPMS technology provides the driver with real-time information on the condition of the tire, its pressure, temperature, and other critical data to maintain the drive’s safety and efficiency. The automotive’s tire valve stems are fitted with sensors, and the information is shown on a display device installed on the automotive dashboard. The major factors driving the growth of the market include the increasing awareness about automotive TPMS and its added benefits such as reduction in maintenance costs of automotive. Additionally, the development of powerful MEMS sensors and SMI for accuracy and precision are aiding in the growth of the market.
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The global automotive TMPS market is segmented based on system type and end-user. Based on the system type, the market is sub-segmented into actual pressure detecting systems, alert alarm systems, and others. Among these system types, the actual pressure detecting system segment is expected to propel the growth of the market due to its efficiency in detecting accurate and precise tire pressure. Based on the end-user, the market is sub-segmented into OEMs, aftermarkets, and others.
The market players are also contributing significantly to the market’s growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in November 2021, through the Aurora Parts and Service Dealer Network, Pressure Systems International (P.S.I.) introduced a Dealer Direct Ship Program for their TireView TMPS and ancillary components. TireView streamlines pre-and post-trip inspections to ensure fleets are properly prepared to hit the road, and it is meant to help fleets save money on tire-related operating expenses and inspection violations. TireView from P.S.I. detects both gradual and quick air leakage and informs the driver. The specifications for high and low pressure, as well as temperature, may be customized to meet the needs of a fleet. Best-in-class data stream reliability is delivered through proven sensors. The TireView cap sensor is enabled by P.S.I. proprietary Check Port (CP) hoses.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By System Type
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Sonik Technology, AAA Vision, Manatec Electronics Pvt. Ltd., AG Electronics, Schrader International Ltd., and Unimeck Tyre Service Equipment Private Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Automotive TMPS Market Report by Segment
By System Type
- Actual Pressure Detecting System
- Alert Alarm System
- Others
By End-User
- OEMs
- Aftermarket
- Others
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